ALEXANDRIA, Va.–More than half of credit unions participating in a voluntary self-assessment said they have made a “leadership/organizational” commitment to diversity at their institutions, according to NCUA.
The agency said in its “2018 Voluntary Credit Union Diversity Self-Assessment Results,” which is based on a somewhat small sample of 81 credit unions, its findings “are not to be interpreted as representative of the entire credit union industry.”
NCUA added, however, that submissions by credit unions of the self-assessment form increased in 2018 from both the previous two years (64 self-assessments in 2017 and 35 in 2016). The 2018 report includes responses from 50 federal and 31 federally insured, state-chartered credit unions filed the self-assessments.
NCUA said it will use the assessments to outline best practices for creating a more diverse and inclusive credit union. The agency also asserts that more credit unions are using assessments to monitor their own diversity-related efforts.
The Findings
Other findings released as part of the NCUA report on diversity:
- 47% reported “proactive implementation of employment practices that expand outreach efforts to diverse individuals”
- 30% said they monitor and assess diversity policy and practices
- 5% said they consider supplier diversity as a factor in procurement and business practices
Of the credit unions that have been frequent responders to the assessment:
- 62% said they were engaging in proactive employment practices implementation (down from 69% the year before)
- 23% responded affirmatively to “promotion of transparency of diversity and inclusion practices” (vs. 27% in 2017)